Bowe wasn’t the only Chiefs player to agree to a new deal on Monday, though. Punter Dustin Colquitt also agreed to a five-year contract worth $18.75 million with almost $9 million guaranteed, Schefter also reported. The deal makes Colquitt the NFL’s highest-paid punter.

Dustin Colquitt is now highest-paid punter in NFL. He reached agreement with Chiefs on a 5-yr, $18.75 million deal, including $8.9 mil gtd.

Retaining the 28-year-old receiver was key for the Chiefs to build a viable passing attack, especially after acquiring quarterback Alex Smith in a trade from the 49ers just last week. Bowe was selected to his first and only Pro Bowl in 2010. He caught 415 passes for 5,728 yards and 39 touchdowns in six seasons with the Chiefs.

By signing Bowe and Colquitt, the Chiefs were free to use their franchise tag to retain offensive tackle Branden Albert.